What follows are the findings of a semi-annual survey of senior mortgage banking executives. The surveys, which were conducted in mid-October, were of mortgage veterans at 33 different mortgage companies — 17 financial intermediaries, largely commercial banks; and 16 non-banks, independent mortgage banks or IMBs.
Category: News and Trends
MBA: 3Q Commercial/Multifamily Borrowing Declines 13 Percent
Commercial and multifamily mortgage loan originations decreased 13 percent in the third quarter from a year ago, according to the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
MBA Advocacy Update Nov. 7, 2022
On Monday, MBA submitted comments to the Federal Housing Finance Agency’s ongoing comprehensive review of the Federal Home Loan Bank System. MBA reiterated its long-standing advocacy for responsible expansion of FHLB membership to critical providers of mortgage origination, servicing and investment activities – such as mortgage REITs and independent mortgage banks – to add diversity to the FHLB System and to provide stable liquidity sources for key players in the single-family and multifamily mortgage markets.
Quote
“Increasing yields across investment alternatives – including the 10-Year Treasury yield more than doubling during the first nine months of the year – have shifted property financing and values, and it will take time for the market to fully absorb these changes. Volatility has been equally impactful, making the sizing of transactions extremely difficult. The result has been the first of what may be many quarters of depressed borrowing and lending activity.”
–Jamie Woodwell, MBA Head of Commercial Real Estate Research.
MBA Chart of the Week Nov. 4 2022: Mortgage Payment to Rent Ratio
This week’s MBA Chart of the Week examines another metric from our PAPI dataset – the mortgage payment to rent ratio. The orange line relates the median principal and interest payment to the median asking rent, and the blue line relates the 25th percentile mortgage application payment to the median asking rent (that may be a more suitable ratio for first-time homebuyers).
Scott Roller: Heard it in Nashville – Worry, Panic and Opportunity
So, I headed to Nashville for the 2022 MBA Annual Convention and Expo, expecting to fully partake in all the excitement that Music City has to offer. Mission accomplished, but not surprised to also witness the build-up to the industry’s looming game of musical chairs.
MISMO Seeks Member Comment on Bids Wanted in Competition Dataset
MISMO®, the real estate finance industry standards organization, seeks public comment on a new Bids Wanted in Competition dataset, which allows mortgage originators and dealers to automate the bidding process for mortgage-backed-securities.
Industry Briefs Nov. 8, 2022: Click n’ Close Launches SmartBuy Loan Suite
Click n’ Close, Addison, Texas, a multi-state mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels, launched SmartBuy, a suite of loan programs designed to give low and moderate-income homebuyers an advantage.
Chris Bennett and Erin Palmer: Extended Rate Locks–How to Hedge Your Bets Past 90 Days
While any new construction loan destined for sale to a GSE can be a one- or two-time close, lenders can decrease risk by focusing the right resources on the initial underwrite as well as the final review.
Mark Tribuna of CRA Note Exchange: How Habitat for Humanity Affiliates Build More Homes
Mark Tribuna is the senior advisor for CRA Note Exchange offered by CBC Mortgage Agency, a national provider of down payment assistance for low- and moderate-income homebuyers.